Common use of For Cause; and Death Clause in Contracts

For Cause; and Death. In the event of termination of this Agreement (i) by the Company for Cause, or (ii) by reason of the death of the Executive, the Company shall pay Executive (or Executive’s beneficiary in the event of the Executive’s death) any base salary or other compensation earned (and a pro rata portion of the bonus payable with respect to the year in which termination occurred) but not paid to Executive prior to the effective date of such termination and, in the case of termination by reason of death, the Company shall pay Executive’s beneficiary (i) the base salary that Executive would have earned for a period of one (1) year following his death, plus (ii) a pro rata portion of any bonuses or other incentive compensation that Executive would have earned if he had been employed for the full fiscal year in which he died payable at the time of payment of similar bonuses made to other Executives of the Company, plus (iii) any death benefits that Executive is entitled to under the Company’s policies in effect on Executive’s date of death. (b)

Appears in 5 contracts

Samples: Employment Agreement (Palomar Medical Technologies Inc), Employment Agreement (Palomar Medical Technologies Inc), Employment Agreement (Palomar Medical Technologies Inc)

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For Cause; and Death. In the event of termination of this Agreement (i) by the Company for Cause, or (ii) by reason of the death of the Executive, the Company shall pay Executive (or Executive’s 's beneficiary in the event of the Executive’s 's death) any base salary or other compensation earned (and a pro rata portion of the bonus payable with respect to the year in which termination occurred) but not paid to Executive prior to the effective date of such termination and, in the case of termination by reason of death, the Company shall pay Executive’s 's beneficiary (i) the base salary that Executive would have earned for a period of one (1) year following his death, plus (ii) a pro rata portion of any bonuses or other incentive compensation that Executive would have earned if he had been employed for the full fiscal year in which he died payable at the time of payment of similar bonuses made to other Executives of the Company, plus (iii) any death benefits that Executive is entitled to under the Company’s 's policies in effect on Executive’s 's date of death. (b).

Appears in 1 contract

Samples: Employment Agreement (Palomar Medical Technologies Inc)

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